1. The benefaction from the Sanjaya Lall Memorial Fund, which comprises £35,000, together with any further donations for the purpose (‘the Fund’), shall be used to establish and maintain a Visiting Professorship, to be known as the Sanjaya Lall Visiting Professorship in Business and Development.
2. The University shall apply the income and capital of the Fund towards the salary and associated costs of the Visiting Professorship.
3. The administration of the Fund, and the application of its capital and income, shall be the responsibility of the Social Sciences Divisional Board.
4. The Sanjaya Lall Visiting Professor in Business Development shall lecture and give instruction in business and development.
5. All preparatory and local arrangements for the professor, and the routine financial administration during his/her stay, will be the responsibility of the department in which the post is based.
6. The professor shall be elected by an electoral board consisting of:
(1) the Vice-Chancellor, or if the head of the college specified in paragraph (2) below is the Vice- Chancellor, a person appointed by Council;
(2) the head of the college to which the chair may be allocated by Council from time to time; or if the head is unable or unwilling to act, a person appointed by the governing body of that college;
(3) a person appointed by the governing body of the college;
(4), (5) two persons appointed by Council;
(6) –(9) four persons appointed by the Social Sciences Divisional Board, being members of the Social Sciences Division with appropriate expertise in one or more of the fields of business studies, economics, development studies, politics and public policy.
7. The professor shall be subject to the General Provisions of the regulations, concerning the duties of professors and to those Particular Provisions of the same regulations, which are applicable to this chair.
8. Regulations 1–2 shall be deemed as Trust Regulations under the provisions of Part D of Statute XVI. 9. Regulations 3–7 may be amended by Council.